{"id":25033,"date":"2023-07-28T13:33:06","date_gmt":"2023-07-28T13:33:06","guid":{"rendered":"https:\/\/espa.io\/loans-3-out-of-10-smes-cut-off-directly-by-banks\/"},"modified":"2023-07-28T13:33:06","modified_gmt":"2023-07-28T13:33:06","slug":"loans-3-out-of-10-smes-cut-off-directly-by-banks","status":"publish","type":"post","link":"https:\/\/espa.io\/en\/loans-3-out-of-10-smes-cut-off-directly-by-banks\/","title":{"rendered":"Loans: 3 out of 10 SMEs cut off directly by banks"},"content":{"rendered":"\n
\"Repayable<\/figure>\n\n

Three<\/strong> out of ten small and medium-sized enterprises<\/a> are rejected from bank financing<\/strong> at the first stage of their assessment, mainly due to debts<\/strong> to the tax authorities<\/strong>, social security funds<\/strong> or banks<\/strong>, whileanother 20%<\/strong> of those that apply have negative results<\/strong>.<\/p>\n\n

This is based on a high sample of 23,085 businesses<\/strong> that submitted a request for a loan<\/strong> through the Hellenic Development Bank<\/strong>‘s “KnowYour Customer”<\/strong> (KYC) platform, which was activated in the first quarter of 2023<\/strong>.<\/p>\n\n

The platform enables businesses to apply for funding<\/strong> by assessing their eligibility at the time of application, specifically their tax and insurance compliance<\/strong> in the first phase and their financial behaviour in the second phase<\/strong>.<\/p>\n\n

The data <\/h3>\n\n

Based on the data collected so far during the 3.5 months of operation of the platform:<\/p>\n\n

    \n
  • 20% of businesses did not have tax information<\/strong>.<\/li>\n\n\n\n
  • 6% of businesses did not have an insurance certificate.<\/strong><\/li>\n\n\n\n
  • 1.7% of enterprises had unfavourable data in the “Tiresias”.<\/strong><\/li>\n<\/ul>\n\n

    Based on the data presented by the Chief Executive Officer of the EBA, Ms. Hadjipetrou, speaking at the Fin Forum 2023 conference, to the total of 23,085 businesses that visited the platform:<\/p>\n\n

      \n
    • 18,778 were deemed eligible.<\/strong><\/li>\n\n\n\n
    • 15,466 have submitted a request.<\/strong><\/li>\n\n\n\n
    • Banks responded positively to 14,302 requests, of which 11,112 came from a single business TIN, as some businesses submitted requests to more than one bank. <\/strong><\/li>\n<\/ul>\n

      \n\n

      \u0395\u03c0\u03b9\u03c0\u03bb\u03ad\u03bf\u03bd:<\/p>\n

        \n
      • 90% of businesses had a turnover of up to \u20ac10 million. euro.<\/strong><\/li>\n
      • 81% employed up to 10 people.<\/strong><\/li>\n
      • 20% of companies had negative results.<\/strong><\/li>\n<\/ul>\n

        <\/p><\/p>\n\n

        Source: moneyreview.gr<\/p>\n","protected":false},"excerpt":{"rendered":"

        Three out of ten small and medium-sized enterprises are rejected from bank financing at the first stage of their assessment, mainly due to debts to the tax authorities, social security funds or banks, whileanother 20% of those that apply have negative results. This is based on a high sample of 23,085 businesses that submitted a 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